---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-043072"
form_type: "8-K"
ticker: "VIPZ"
cik: "0001832161"
company_name: "VIP Play, Inc."
filed_at: "2024-10-30T23:59:59+00:00"
generated_at: "2026-05-30T08:29:44.874458+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# VIP Play increases related-party convertible note to $6.785M; borrows additional $275K

## Summary
- Outstanding principal under convertible demand note with Excel Family Partners (controlled by CEO) now $6,785,000 as of Oct 30, 2024.
- Borrowed $175,000 on Oct 25 and $100,000 on Oct 30 at 12% fixed interest; note matures April 1, 2025.
- Conversion price: 80% of lowest recent share price in prior 12 months, floor $0.50 per share, at Excel's option.
- Note is demand and uncommitted; no reborrowing after repayment of principal or interest.
- All loans are from related party—CEO Bruce Cassidy controls Excel Family Partners.

## SEC filing metadata
- accession: 0001493152-24-043072
- form_type: 8-K
- ticker: VIPZ
- cik: 0001832161
- company_name: VIP Play, Inc.
- filed_at: 2024-10-30T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1832161/000149315224043072/0001493152-24-043072-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1832161/000149315224043072/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-043072
- JSON: https://secwatch.observer/filing/0001493152-24-043072.json
- Plain text: https://secwatch.observer/filing/0001493152-24-043072.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.